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Read Full BioPrediction market platform Polymarket is preparing to relaunch into the US market in time for the new football season.
Ahead of the launch, it is specifically targeting states that have not legalized sports betting. One ad active on Facebook runs with the tagline: “BIG NEWS Texas. Trading on football will be LEGAL this fall.”
The company has a similar ad in California, while another in Georgia states: “You ready Georgia? Football season is coming up and trading on games is now legal on Polymarket.”
A search on Facebook’s ad database revealed similar ads in multiple states that do not offer sports betting.
Polymarket has also been active with football posts on X.
Ads Target ‘Traders’ in All 50 States
The decision to specifically target states where sportsbooks are not yet active is likely to anger state authorities and tribal groups that have exclusive access to gambling.
The site is careful about the wording of its ads; however, another states, “BREAKING: Legal football trading is coming to ALL 50 states.”
The ads echo rival prediction market site Kalshi’s tagline of “Betting on Kalshi: the first app for legal sports betting in all 50 states.”
The wording, which includes “trading” rather than “betting,” is noteworthy. Kalshi’s words have been used against the company in an increasing number of court battles. Tribes and state regulators have highlighted that it is openly declaring itself as a betting platform.
Kalshi is more careful about its choice of words in court, arguing that it is offering users the chance to trade on markets with real-world financial consequences, rather than bet on sports.
The site has expanded its range of markets in time for the new football season, and now offers point spreads and totals, with prop betting expected to go live soon.
Football Season Becomes Battleground for Prediction Markets
Polymarket and Kalshi are set to go head-to-head for the new football season. The CEOs of the two platforms have found themselves in a war of words ahead of the potential clash.
Polymarket’s founder and CEO, Shayne Coplan, referred to Kalshi as a “copycat” site. Kalshi CEO Tarek Mansour responded in kind, saying that the acquisition of QCEX by Polymarket was “super normal for competition to basically want to follow.”
He added: “We’re squarely in the lead position with a very, very strong head start because of an unwavering commitment to build it legally, build it credibly in the US. And now other people are trying to sort of replicate the setup and do the same exact things that we’ve done over the last few years.”
Kalshi was recently valued at around $2 billion in a funding round, with Polymarket trailing behind at around $1 billion.
The companies may also soon face challenges from FanDuel, as the platform has partnered with CME Group to create a federally regulated platform for event contracts.
The new venture will not feature sports markets for now, but may expand later depending on the outcome of court battles between Kalshi and state regulators.
It had been reported that FanDuel was in talks with Kalshi to form a partnership, but nothing came of those rumors.
